The aluminum market will be in surplus in 2010 unless there is a stronger-than-expected growth in consumer demand and/or customer restocking. Aluminium has touched a low of Rs 95.65 a kg after opening at Rs 97.45, and last traded at Rs96.9.For today market is looking for the support at 95.8, a break below could see a test of 94.6 and where as resistance is now likely to be seen at 98, a move above could see prices testing 99.

Trading Ideas:

Aluminium trading range is 94.6-99.

The aluminum market will be in surplus in 2010

Support for aluminium is at 95.80 and resistance is at 98 level.

Aluminium daily stock at Shanghai exchange came up by 52 tonnes.

BUY ALUMINIUM @ 96 SL 95 TGT 97.40-98.80.MCX